Baillie Gifford’s MacDougall replaced on Japan funds

MacDougall will move to a global equities role within the company, after eight years running the two funds.

He will be replaced by Praveen Kumar, who is currently an investment manager in the Baillie Gifford Japanese equities team, as of 1 December.

The £239m Japanese Smaller Companies fund returned 67.4 per cent over three years compared to the sector average of 49.2 per cent.

The £160m Shin Nippon investment trust has returned 188.5 per cent over five years against the sector average of 55.7 per cent.

“Praveen Kumar will be supported by Baillie Gifford’s Japanese Equities team, which currently comprises five investment managers and three analysts with over seven decades of collective market experience,” says Sarah Whitley, head of Japanese equities.